With warm temperatures and beautiful bluebird days offering buyers and sellers an early start to the 2018 spring selling season, luxury home sales (sales over $1M) in Denver metro and Boulder saw a significant increase year-over-year, according to a February luxury market report prepared by LIV Sotheby’s International Realty.

In addition to buyers being able to enjoy touring luxury homes in pleasant weather, the market demonstrated growth largely due to luxury buyers’ continued desire to invest in Colorado’s vibrant economy. In February, the number of properties sold and total sales volume in both Denver metro and Boulder demonstrated an increase year-over-year, indicating a still-competitive luxury real estate market.

“The Denver luxury market has increased 50 percent in total sales volume year-over-year,” said Scott Webber, president of LIV Sotheby’s International Realty. “With a significant increase in new luxury listings, almost three times more than the previous year, and less days spent on market, the luxury segment is performing very well.”

In the metro area, the number of luxury homes sold demonstrated an increase year-over-year, with 97 homes priced at more than $1M sold in February 2018, compared with 59 sold in February 2017 — a 64 percent increase, according to data released by LIV Sotheby’s International Realty and based on information from REColorado. New inventory increased 34 percent year-over-year, with 235 new listings entering the Denver market in February, compared with only 175 new listings in February 2017. The average days on market decreased, down 27 percent year-over-year, from 146 days in February 2017 to 107 in February 2018, indicating an increasingly competitive luxury marketplace.

The most expensive residential sale in February in metro Denver was a 15,758-square-foot residence at 1295 Silver Rock Lane in Evergreen that sold for $5,100,000. LIV Sotheby’s International Realty brokers Jeff and Carliss Erickson represented the buyers of the sale.

In February, the Boulder County luxury real estate market showed a significant 85 percent increase year-over-year, with 24 homes selling in February compared with 13 homes in February 2017 (information from IRES, LLC). Year-over-year, the number of new listings also increased, rising from 64 new homes listed in February 2017 to 79 new homes listed in February 2018, a 23 percent increase. The average sales price also increased, up 9 percent year-over-year, from $1.46M in February 2017 to $1.59M in February 2018, indicating a competitive luxury marketplace as we move into the spring selling season.

“Although February tends to be the quietest month in sales, February 2018 saw double the number of sales year-over-year,” said Boulder managing broker David Carner. “Days on the market held steady at about four months on average. Prices continue to appreciate, which indicates a healthy luxury real estate market in Boulder County.”
The most expensive residential sale in February in Boulder County was a 4,127-square-foot residence at 1765 Sunset Blvd. in Boulder that sold for $4,537,500.

LIV Sotheby’s International Realty, the exclusive Board of Regent for the Who’s Who in Luxury Real Estate, has 15 office locations in the Denver Metro and surrounding areas, including Boulder, Castle Rock, Cherry Creek, Clayton Street, Denver Tech Center, Downtown Denver, Evergreen and the resort communities of Breckenridge and the Vail Valley. For more information, call 303.893.3200. To service all of your real estate needs visit LivSothebysRealty.com.

The news and editorial staffs of The Denver Post had no role in this post’s preparation.